WETTENBERG (dpa-AFX) - Technology group PVA Tepla has started the new year with growth. Demand for solvents for the semiconductor and energy industries, for example, remains high, the company announced in Wettenberg on Thursday. Accordingly, sales in the first quarter rose by 75 percent to 58.5 million euros. Earnings before interest, taxes, depreciation and amortization (Ebitda) more than doubled to 7.2 million euros.

PVA Tepla confirmed its forecast for the full year. Thanks to full order books, the company continues to expect sales of 240 to 260 million euros, compared with 205 million in the previous year. Ebitda is expected to increase from around 30 million to between 36 and 40 million euros in 2023.

Jefferies analyst Constantin Hesse attested PVA a "solid start" to the year. The order situation also remains stable despite the macro-economic uncertainties, he said. Earnings growth was driven in particular by the high-margin semiconductor segment.

This did not help the share price. The stock, which is listed in the small-cap segment SDax, slipped sharply into the red after interim gains and lost almost six percent around midday before narrowing its losses again somewhat.

PVA Tepla specializes in vacuum technology and measurement technology, among other things. However, the company also supplies the semiconductor and photovoltaic industries with crystal growing systems./nas/tav/stk